CDW Co. (NASDAQ:CDW) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its position in shares of CDW Co. (NASDAQ:CDW) by 70.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,825 shares of the information technology services provider’s stock after acquiring an additional 4,484 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CDW were worth $1,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the period. OFI Invest Asset Management acquired a new stake in shares of CDW during the fourth quarter valued at about $32,000. Parkside Financial Bank & Trust raised its stake in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Canoe Financial LP lifted its holdings in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider’s stock worth $48,000 after acquiring an additional 112 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of CDW during the 4th quarter worth approximately $66,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW opened at $152.03 on Wednesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a 1-year low of $137.31 and a 1-year high of $248.12. The stock has a market cap of $20.03 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. The firm has a fifty day moving average price of $166.14 and a 200 day moving average price of $182.47.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, sell-side analysts anticipate that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its board has approved a share repurchase plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.64%. CDW’s payout ratio is 31.37%.

Analyst Ratings Changes

A number of brokerages have issued reports on CDW. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group lowered their target price on CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Citigroup reduced their target price on shares of CDW from $220.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley upped their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price target on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus price target of $217.38.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.